Friday, 30 January 2015

It is
imperative for SMBs to ensure maximum output with minimum investment. Small
business need to optimally utilize their resources for enhanced productivity. With
the smart phone boom, mobile applications have become a standard business tool.
SMB players need to focus on adopting specific applications which cater to
their business needs and enhance operational excellence.

Analyses of
data on the basis of consumer behavior patterns plays a vital role for
companies to understand the need of their consumer and thereby realigning their
marketing strategies. SMBs should adopt mobility solutions to foster growth and
enhance consumer experience.

SMB players
need to utilize services such as email, messaging, CRM, social media to ensure
they reach out to their consumers and potential consumers. In India, mobility
drives the holistic strategy of e-commerce success stories like Flipkart,
Snapdeal and Jabong. Snapdeal has witnessed a 25-fold growth in mobile based transactions
and more than 50% of their sales come from mobile devices in the last year.

Another
strong development for upsurge of mobile-based payments is the greater adoption
of mPOS (mobile point-of-sale) solutions. Modern mPOS solutions are convenient
to use, ensuring the SMBs to convert their mobile into a POS device and drive
transaction volumes by accepting cards anywhere, anytime. This would help the
SMBs to increase sales, add value to customer experience and take small
retailers community to a cashless route.

To
conclude, the SMB industry has the potential to be the largest growth driver
for the economy. The players need to move beyond traditional practices and
adopt solutions which would give them the required impetus to script greater
success stories in the coming years.